Pioneer Natural Resources Stock Forecast

Red day on Friday for Pioneer Natural Resources stock after losing 0%
(Updated on May 17, 2024)

PXD Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 0.732%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Pioneer Natural Resources stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $269.62 and $270.46. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Wednesday, April 24, 2024 and based on theory for this formation the price should fall by -2.79% to $262.10 within 10 trading days since signal was issued (Monday, May 20, 2024).

Support, Risk & Stop-loss for Pioneer Natural Resources stock

Pioneer Natural Resources finds support from accumulated volume at $267.66 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%

Our recommended stop-loss: $252.41 (-6.38%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)

Trading Expectations (PXD) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Pioneer Natural Resources Company to open at $269.62, and during the day (based on 14 day Average True Range), to move between $267.30 and $271.94, which gives a possible trading interval of +/-$2.32 (+/-0.86%) up or down from last closing price. If Pioneer Natural Resources Company takes out the full calculated possible swing range there will be an estimated 1.72% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $270.31 (0.26%) than the support at $267.66 (0.73%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Pioneer Natural Resources Company stock A Buy?

Pioneer Natural Resources holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Pioneer Natural Resources Company of Monday, May 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.